Supplementary supervision of financial entities in a financial conglomerate ***I European Parliament legislative resolution of 5 July 2011 on the proposal for a directive of the European Parliament and of the Council amending Directives 98/78/EC, 2002/87/EC and 2006/48/EC as regards the supplementary supervision of financial entities in a financial conglomerate (COM(2010)0433 – C7-0203/2010 – 2010/0232(COD))#P7_TC1-COD(2010)0232 Position of the European Parliament adopted at first reading on 5 July 2011 with a view to the adoption of Directive 2011/…/EU of the European Parliament and of the Council amending Directives 98/78/EC, 2002/87/EC, 2006/48/EC and 2009/138/EC as regards the supplementary supervision of financial entities in a financial conglomerate#ANNEX TO THE LEGISLATIVE RESOLUTION
Date: 2011-07-05
Institutions: Committee on Economic and Monetary Affairs, Committee on Legal Affairs, European Parliament
Subjects: EU control, credit institution, financial control, financial solvency, holding company, investment company, provision of services, right of establishment








CE2013033EN.01029601.xml










5.2.2013   


EN


Official Journal of the European Union


CE 33/296





Tuesday 5 July 2011Supplementary supervision of financial entities in a financial conglomerate ***I
P7_TA(2011)0311
European Parliament legislative resolution of 5 July 2011 on the proposal for a directive of the European Parliament and of the Council amending Directives 98/78/EC, 2002/87/EC and 2006/48/EC as regards the supplementary supervision of financial entities in a financial conglomerate (COM(2010)0433 – C7-0203/2010 – 2010/0232(COD))
2013/C 33 E/35
(Ordinary legislative procedure: first reading)

The European Parliament,






—


having regard to the Commission proposal to Parliament and the Council (COM(2010)0433),










—


having regard to Article 294(2) and Article 53(1) of the Treaty on the Functioning of the European Union, pursuant to which the Commission submitted the proposal to Parliament (C7-0203/2010),










—


having regard to Article 294(3) of the Treaty on the Functioning of the European Union,










—


having regard to the opinion of the European Central Bank of 28 January 2011 (1),










—


having regard to the undertaking given by the Council representative by letter of 17 June 2011 to approve Parliament’s position, in accordance with Article 294(4) of the Treaty on the Functioning of the European Union,










—


having regard to Rule 55 of its Rules of Procedure,










—


having regard to the report of the Committee on Economic and Monetary Affairs and the opinion of the Committee on Legal Affairs (A7-0097/2011),










1.


Adopts its position at first reading hereinafter set out;










2.


Approves its statement annexed to this resolution;










3.


Takes note of the statement of the Council and the statement of the Commission, annexed to this resolution;










4.


Calls on the Commission to refer the matter to Parliament again if it intends to amend its proposal substantially or replace it with another text;










5.


Instructs its President to forward its position to the Council, the Commission and the national parliaments.






(1)  OJ C 62, 26.2.2011, p. 1.


Tuesday 5 July 2011P7_TC1-COD(2010)0232
Position of the European Parliament adopted at first reading on 5 July 2011 with a view to the adoption of Directive 2011/…/EU of the European Parliament and of the Council amending Directives 98/78/EC, 2002/87/EC, 2006/48/EC and 2009/138/EC as regards the supplementary supervision of financial entities in a financial conglomerate

(As an agreement was reached between Parliament and Council, Parliament's position corresponds to the final legislative act, Directive 2011/89/EU.)




Tuesday 5 July 2011ANNEX TO THE LEGISLATIVE RESOLUTION

Statement by the European Parliament

There are particular circumstances in financial services and the European Supervisory Architecture that make correlation tables essential.
It is hereby declared that the agreement reached between the European Parliament and the Council in the trilogue of 1 June 2011 concerning the Directive of the European Parliament and of the Council amending Directives 98/78/EC, 2002/87/EC, 2006/48/EC and 2009/138/EC as regards the supplementary supervision of financial entities in a financial conglomerate does not prejudge the outcome of inter-institutional negotiations on correlation tables.

Statement by the Council

It is hereby declared that the agreement reached on this specific case between the Council and the European Parliament in the trilogue of 1 June 2011 concerning the Directive of the European Parliament and of the Council amending Directives 98/78/EC, 2002/87/EC, 2006/48/EC and 2009/138/EC as regards the supplementary supervision of financial entities in a financial conglomerate, due to the specificities of this dossier, prejudges neither the position of the Council nor the outcome of inter-institutional negotiations on correlation tables.

Statement by the Commission

The Commission welcomes the outcome of negotiations on this file.
The Commission recalls its commitment towards ensuring that Member States establish correlation tables linking the transposition measures they adopt with the EU directive and communicate them to the Commission in the framework of transposing EU legislation, in the interest of citizens, better law-making and increasing legal transparency and to assist the examination of the conformity of national rules with EU provisions.
The Commission will continue its efforts with a view to finding together with the European Parliament and the Council an appropriate solution to this horizontal institutional issue.